Lumax Industries Limited Investor Presentation - February 2019 Safe - - PowerPoint PPT Presentation

SLIDE 1

Lumax Industries Limited

Investor Presentation - February 2019

SLIDE 2

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Lumax Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance

• f the Indian economy and of the economies of various international markets, the performance of the industry in India

and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels

• f growth and expansion, technological implementation, changes and advancements, changes in revenue, income or

cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

2

Safe Harbor

SLIDE 3

3

DK Jain Group

Seven Decade Strong Leader in Automotive Lighting & Gear Shifters 13 Entities in 8 States 28 Manufacturing Facilities 3 R&D Centres (India) & 1 Design Centre (Taiwan) Over 9,000 Employees

SLIDE 4

Group Revenue Break Up (%) FY18 Revenue of Rs. 2,950 Cr Lumax Industries Limited

Products & Services End-to-end Automotive Lighting Solutions Partnerships

• Stanley – Japan
• SL Corporation - Korea

4

Lumax Auto Technologies Limited

Products & Services

Intake Systems, Integrated Plastic modules, 2-wheeler Chassis & Lighting, Gear Shifters, Seat Structures & Mechanisms, LED Lighting, Aerospace & Defence Engineering Services, Aftermarket, Electrical & Electronics components, Telematics Products and Services, Oxygen Sensors

• Cornaglia SPA - Italy
• Mannoh Industrial Co. Limited – Japan
• Gill Industries Inc. – USA
• Austem Co. Limited – Korea
• Alpine – Japan
• Ituran – Israel
• FAE - Spain

56% 38% 6%

Lumax Industries Limited Lumax Auto Technologies Limited Other Entities

Two Listed Entities

Partnerships

SLIDE 5

GROUP PURPOSE

We deliver pride and progress with positivity

VISION

Building an admired high performance global organisation in whom all stakeholders have absolute trust

VALUES

Respect | Integrity | Passion | Excellence

5

Purpose, Vision & Values

SLIDE 6

▪ Destination Boards & Urea Tanks for Commercial Vehicle ▪ Telematics Products & Services Aftermarket products

Diversified Product Range – 4-wheelers & CV

6

SLIDE 7

Diversified Product Range – 2-wheelers

Aftermarket products 7

SLIDE 8

Relationship Since 2008 45% in Lumax Mannoh Allied Technologies Limited

JV for Gear Shifters

Japan

Relationship Since 1984 37.5% in Lumax Industries Limited

JV for Lighting

Japan

Relationship Since 1997 78.72% in SL Lumax Limited

JV for Lighting and other automotive parts

Korea

Relationship Since 2007 50% in Lumax Cornaglia Auto Technologies Pvt Limited

JV for Emission Systems

Italy

Relationship Since 2013 50% in Lumax Gill-Austem Auto Technologies Pvt Limited

Korea JV for Seat Frames, Structures and Mechanism USA

8

Relationship Since 2014

Exclusive Distributorship Agreement

Japan

2017

50% in Lumax Ituran Telematics Pvt Limited JV for Telematics Products and Services

Israel

JV for Oxygen Sensors

Spain

2017

49% in Lumax FAE Technologies Pvt Limited

Fostering Partnerships to Deliver Excellence

SLIDE 9

28 Plants in 7 States

Lumax Industries Limited & Lumax Auto Technologies Limited, along with its subsidiaries, JVs & Associates State Mfg Locations # Haryana Bawal 1 Dharuhera 1 Gurugram 2 Manesar 3 Maharashtra Pune 8 Waluj 3 Karnataka Bengaluru 2 Gujarat Sanand 1 Mehsana 1 Tamil Nadu Sriperumbudur 1 Uttarakhand Haridwar 1 Pantnagar 3 Himachal Pradesh Kale Amb 1 Total 28

Map not to scale. All data, information and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness

Facilities Location R&D Centre Gurugram, Manesar, Pune Design Centre Taiwan Corporate HQ Gurugram After Market Division Gurugram

9

28 Locations close to Customers

SLIDE 10

Environmental Conscious

▪ Environment-conscious work practices

Research & Development

▪ Government approved 3 R&D facilities & 1 Overseas Design Centre in Taiwan

Global Footprints

▪ Global footprint through exports

Faster Turnaround

▪ Lightning-fast turnaround time & impressive speed to market

Technology Leadership

▪ Partnerships with global players provides competitive edge ▪ Avant-grade technology at par with the best players worldwide

Experienced Team

▪ Highly Qualified & Experienced workforce of dedicated professionals

Understand the Customer

▪ A real understanding of varying customer needs & the capability to deliver

• utstanding results

10

Enhanced 360°Customer View

SLIDE 11

Two Wheeler Four Wheeler Commercial Vehicle

11

Relationships with Diversified Customers

Tier 1

SLIDE 12

Defence & Aero Space Tractor/FES Export

12

… Strong After Market Exports Presence

Relationships with Diversified Customers

SLIDE 13

Lumax Industries Limited

Driving Leadership in Automotive Lighting

SLIDE 14

1945-80 1981-84

1945: Founded a partnership firm ‘Globe Auto Industries’ as a Trading concern 1956-57: Set-up dedicated unit for Automotive Lighting Equipment in Delhi 1977-79: Setup manufacturing units in Faridabad, Haryana and Pune, Maharashtra 1985: Setup a manufacturing unit in Gurugram, Haryana. The company went public & is listed on the stock exchange 1994: Equity participation of Stanley, Japan in Lumax Industries Limited Manufacturing unit setup in Aurangabad, Maharashtra 1981: Lumax Industries Pvt Limited established after taking over partnership firm Globe Auto Industries 1984: TA signed with Stanley, Japan for Lighting Equipment

1985 1994 1997-98

1997: Joint Venture agreement with SL Lumax Limited. Further Equity participation by Stanley, Japan 1998: Set-up manufacturing unit at Dharuhera, Haryana

14

Milestone

SLIDE 15

2002-05 2006-09

2003: Demerger Lumax Industries 2005: Setup manufacturing unit in Chakan, Maharashtra 2010: Setup a manufacturing plant in Haridwar, Uttarakhand 2011: Setup manufacturing plants in Bawal, Haryana; Sanand, Gujarat & Bidadi,

• Karnataka. Also setup a

R&D centre at Pune 2014: The Company completed 25 years of listing on BSE 2015: The Pantnagar plant received the TPM award from JIPM 2016: Opening of Design Centre in Taiwan 2007: Further Equity participation by Stanley, Japan 2008: Setup manufacturing plant in Pantnagar, Uttarakhand & expansion of Dharuhera and Chakan

• plants. Also setup a R&D

centre at Gurugram

2010-13 2014-16 2017-19

2017: Further expansion at Sanand, Gujarat facility 2018: The Bawal plant received the TPM award from JIPM 2019: Bangalore plant has been awarded TPM excellence award

…2005 -2019 a period of strategic expansion

15

Milestone

SLIDE 16

One of the few players with largest range of lighting solutions

Product Portfolio

Leadership in Lighting

Market Leaders

Consistent financial performance with improving return ratios

Financial Stability

Over 7 decades of OEM relationships

Experience

10 manufacturing facilities strategically located at key automotive hubs in the country

Proximity to Customers

2 R&D centers & 1 Overseas Design centre to stay ahead of the curve in design trends

In-House Design

State-of-the-art facilities allows us to benchmark our products

Technology Expertise

With more than 3 decades of partnership with Stanley, Japan, the only global auto lighting company to manufacture LED worldwide, having presence in Japan, America, China, Asia Pacific and Europe

Partnerships

16

Competitive Advantages

SLIDE 17

Product wise Sales 9MFY18 (Rs. 1,057 Crores)* Product wise Sales 9MFY19 (Rs. 1,410 Crores)*

Front Lighting – Head Lamp & Fog Lamp Rear Lighting –Tail Lamp & High Mount Stop Lamp Others – Auxiliary Lamps, Indicators

69% 20% 11%

Front Lighting Rear Lighting Others

17

9MFY19: Product Mix

65% 25% 10%

Front Lighting Rear Lighting Others

* Excludes Mould Sales

SLIDE 18

Segment Wise Sales Q3FY18 (Rs. 363 Crores)* Segment Wise Sales Q3FY19 (Rs. 415 Crores)*

18

Q3FY19: Segment Mix

71% 23% 6%

Passenger Vehicles 2-Wheelers Commercial Vehicles

67% 26% 7%

Passenger Vehicles 2-Wheelers Commercial Vehicles

* Excludes Mould Sales

SLIDE 19

Segment Wise Sales 9MFY18 (Rs. 1,057 Crores)* Segment Wise Sales 9MFY19 (Rs. 1,410 Crores)*

19

9MFY19: Segment Mix

69% 26% 5%

Passenger Vehicles 2-Wheelers Commercial Vehicles

67% 27% 6%

Passenger Vehicles 2-Wheelers Commercial Vehicles

* Excludes Mould Sales

SLIDE 20

Customer wise sales Q3FY18 (Rs. 363 Crores)* Customer wise sales Q3FY19 (Rs. 415 Crores)*

20

Q3FY19: Customer Mix

116, 32% 36, 10% 33, 9% 40, 11% 39, 11% 27, 7% 72, 20%

MSIL M&M HCIL HMSI HML TATA Others

151, 36% 36, 9% 24, 6% 58, 14% 44, 11% 30, 7% 72, 17%

MSIL M&M HCIL HMSI HML TATA Others

Figures in Rs. Crores * Excludes Mould Sales

SLIDE 21

Customer wise sales 9MFY18 (Rs. 1,057 Crores)* Customer wise sales 9MFY19 (Rs. 1,410 Crores)*

21

9MFY19: Customer Mix

334, 32% 109, 10% 93, 9% 118, 11% 129, 12% 74, 7% 200, 19%

MSIL M&M HCIL HMSI HML TATA Others

478, 34% 122, 9% 69, 5% 212, 15% 144, 10% 97, 7% 288, 20%

MSIL M&M HCIL HMSI HML TATA Others

Figures in Rs. Crores * Excludes Mould Sales

SLIDE 22

Product wise Sales 9MFY18 (Rs. 1,057 Crores)* Product wise Sales 9MFY19 (Rs. 1,410 Crores)*

80% 20%

Conventional Lighting LED Lighting

22

9MFY19: LED Lighting vs Conventional Lighting

65% 35%

Conventional Lighting LED Lighting

* Excludes Mould Sales

SLIDE 23

Key Customer Sales Breakup FY18 – Rs. 1,084 Crores Products

Lamps Head Lamp, Rear Combination Lamp, Fog Lamp Shift Lever, Parking Brakes Others Chassis, Trim & Mirrors

SL Lumax Limited

Associate Company with 21.28% holding Plant in Sriperumbudur (Chennai) In partnership with SL Corporation, Korea, a multinational automotive player with presence in Asia-Pacific, Europe & US 69% 31%

Lamps Others

23

SL Lumax Limited

SLIDE 24

Four Wheeler Export

Tractor /FES

Two Wheeler Commercial Vehicle

… Servicing almost 90% of OE Customers in India …

24

Strong Customer Base …

SLIDE 25

Map not to scale. All data, information and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness

R&D Centre & Design Centre R&D Centre Gurugram Pune Design Centre Taiwan

… in Key Auto Belts of India

Bawal Dharuhera Gurugram Sanand Bengaluru Chennai SL Lumax Ltd Chinchwad Chakan Haridwar Pantnagar

25

… From Strategic Locations …

SLIDE 26

26

State of Art Manufacturing Facilities

SLIDE 27

27

State of Art Manufacturing Facilities

SLIDE 28

28

State of Art Manufacturing Facilities

SLIDE 29

29

…In-house R&D & Validation Facility

SLIDE 30

30

…In-house Design Studio

SLIDE 31

Shareholding breakup

Over three decades of strong technical & financial collaboration with Stanley Electric Company Ltd, Japan A world leader in Vehicle Lighting & Illumination products for Automobiles The

• nly

Global Auto Lighting company to manufacture LED worldwide Stanley Electric Company Ltd

DK Jain Family 37.50% Stanley 37.50% Others 25.00%

31

Share Holding as of 31st December, 2018

SLIDE 32

• Mr. Dhanesh Kumar Jain

Chairman Emeritus

• Mr. Deepak Jain

Chairman & Managing Director

• Mr. Anmol Jain
• Jt. Managing Director

▪ He is 76 years of age & holds a MBA degree from Delhi university & has successfully completed President Management Program from Harvard Business School ▪ Over 50 years of experience in the automotive industry in management,

• perations & administrative roles

▪ He has held various industry positions ▪Past president of ACMA, President suppliers association – Toyota Kirloskar Motors, Chairman of Trade Fairs Committee ACMA, Co-chairman

• f Regional Committee on

Membership of Northern Region CII, Past Chairman of CSR sub- committee of the Northern Region of CII ▪ He is 43 years of age & is a Business Graduate from Illinois Institute of Technology, USA with specialization in Operations Management & International Business ▪ He has undergone extensive training at Stanley Co. Limited, U.S.A. & Stanley Electric

• Co. Limited, Japan. He has over 21 years

experience ▪ He was chairman of ACMA’s HR/IR & Skill Development Committee, past chairman of Sustainable Technology Development Committee of ACMA, past National Coordinator of Young Business Leader Forum

• f ACMA and past president of Supplier’s

club, Honda Cars India Limited ▪ He is Member of Young President Organization and Entrepreneurs’

• Organization. He also holds the position of

Chairman of Northern Region of ACMA & Vice President of Toyota Kirloskar Supplier’s Association ▪ He is 39 years of age & holds Bachelors in Business Administration in Finance & Supply Chain Management (Double major) from Michigan State University, U.S.A. ▪ He worked as a Management Trainee with GHSP, U.S.A. & subsequently, joined Lumax Group, in 2000 & has over 17 years of experience ▪ He has held various positions in Industry associations. He was the National Coordinator of ACMA- YBLF from 2014-16. He was also the Chairman CII Haryana State Council in 2012-13 ▪ He is currently the EC member of Honda Cars India Supplier’s Club & Bajaj Auto Vendor Association MC member

Promoter Group

32

SLIDE 33

▪ He is 52 years old & is a Mechanical Engineering from Tokoyo Denki University Japan ▪ He is Nominee Director of M/s Stanley Electric Co. Limited, Japan and possesses

• ver 28 years of rich

experience in the field of Car Electronics, Engineering, Sales of car electronic parts and Sales Planning Division ▪ He is with Lumax since 2017

• Mr. Tadayoshi Aoki

Senior Executive Director

▪ He is 55 years old & graduated from Osaka Institute of Technology ▪ He is a Nominee Director of M/s Stanley Electric Co. Limited, Japan and possesses

• ver 31 years of rich

experience in Quality Control & Lamp Assembly ▪ He is with Lumax since 2008

• Mr. Koji Swada

Executive Director

▪ He is 58 years old & is a graduate from Hosei university, japan ▪ He has over 25 years of rich experience in R&D of Electrical components & advanced Illumination systems for automotive equipment ▪ He also has about 10 years of experience in automotive electronics ▪ He joined Stanley, Japan in 1981

• Mr. Toru Tanabe

Non-Executive Director 33

Promoter Group

SLIDE 34

34

• Mr. Rajeev Kapoor
• Mr. M.C. Gupta
• Mr. Dhiraj Dhar Gupta
• Mr. Ratan Kapur
• Ms. Ritika Modi
• Mr. A P Gandhi
• He is 66 years old and

mechanical engineer (hons) from NIT, Kurukshetra

• He was MD for Copart Inc.

and has served as independent director on the board of RICO industries, Co-Chair of Economic Committees SIAM, Served on board of ARAI, Pune and on board of Indo Italian chamber of Commerce

• Listed on the power list of

2012, alongside Mr. Ratan Tata, Mr. Rahul Bajaj, Mr. Anand Mahindra etc.

• Entrepreneurial by nature

and experience in excess of 40 years

• He is 80 years old and is

MA in English Literature from Agra University

• He is a Retd. IAS officer

& has served the Union & State Governments in various capacities including Deputy Secretary, Min of Finance-Dept. of economic Affairs, Advisor – UNIDO (United Nations Industrial Development Organisation)

• He is 68 years old and

holds B.Com honours from SRCC, Delhi University

• He is an Industrialist;

Director & Promoter

• f KSS Abhishek Auto

Pvt Limited, having

• ver 3 decades of

experience in Auto Component manufacturing

• He is 61 years old & is

a B.Com Graduate from Delhi University

• He is an Industrialist &

possesses more than 32 years of experience in Auto Component Industry

• He is the current

President of ACMA & Chairman of Haryana State Council of CII

• She is 38 years old

andhas an industry experience of over 25 years in the travel and airline industry

• She is currently

Regional President of UNIGLOBE Travel South Asia, heading the largest single brand travel franchise network in South Asia region

• He is 80 years old & is a

mechanical engineer

• He has held top

leadership positions in prestigious

• rganisations having
• ver 40 years of

experience

• His last assignment was

as President at Hyundai Motors India Limited. Prior to that he was Chief Executive –R&D at Escorts Limited & at Telco before that, holding various senior positions in the area of manufacturing

• perations

…Supported by Strong Independent Directors

SLIDE 35

• Ms. Priyanka Sharma

Corporate Communication & CSR Age: 50 Years Experience: 22 Years

• Mr. Atul Jain

Corporate Head - Materials Age: 48 Years Experience: 25 Years

• Ms. Ibha Lal

Corporate Head - HR Age: 51 Years Experience: 25 Years

• Mr. B S Bhadauriya

Group – Company Secretary Age: 53 Years Experience: 27 Years

• Mr. Naval Khanna

Corporate Head – Taxation Age: 60 years Experience: 40 years

• Mr. Sanjay Mehta

Group – Chief Financial Officer Age: 51 years Experience: 27 Years

• Mr. Shrutikant Rustagi

Chief Financial Officer Age: 48 Years Experience: 23 Years

Professional & Experienced Team

35

• Mr. Vikas Marwah

Chief Strategy Officer Age: 51 Years Experience: 28 Years

• Mr. Vineet Sahni

CEO & Senior Executive Director Age: 53 years Experience: 30 Years

SLIDE 36

The Path Ahead

SLIDE 37

37

• Tail lamps were

introduced with Clear Lenses with adoption of Multi Color Molding technique for giving a Homogenous appearance to the tail lamp

2011-12

• New Styling

adopted in Tail Lamps with introduction of Split Tail Lamp design

2013-mid of 2014

• All the new models

to be introduced are with LED’s for having better Aesthetic Appearance and Signature Appearance

2017 onwards

• Almost all the new

models launched were having presence of LED’s either for one of the functions or for Signature Lighting

2016

• Penetration of

LED’s into Tail Lamps with introduction of one

• r more feature

with LED.

• LED’s adopted for

giving Signature shape in the Tail Lamps

End of 2014 - 2015

Split type Tail Lamp Tail Lamp with LED Signature and Tail function All LED Tail Lamp 3D LED Tail lamp Adaptive rear Lighting

LED to drive the future growth

Rear Lamp – Technology Evolution

SLIDE 38

• Head Lamps with Halogen Bulbs

with Clear PC Lens with Multi Focal Reflector (MFR) for Light Distribution were introduced in the passenger vehicle segment

• Indian OEM’s introduced

Projector Lamps with Halogen Lamps and some features with LED like the DRL (Daytime Running Lights). But Projector Lamps were offered as an option in top variants of the vehicles and not as a standard feature

• Introduction of Projector Lamps

with Halogen Bulbs for new vehicles launched in India by more number of OEM’s as standard feature

• In the later half of 2014 and start
• f 2015 more number of OEM’s

shifted focus to introduction of LED’s for feature of DRL’s and / or signature Lighting

• Also in 2015 more number of

Head Lamps were introduced with LED’s for DRL feature with usage of HID (High Intensity Discharge) Bulbs for Projector

• Almost all the models were

introduced either with LED DRL feature or Projector Head Lamp (either with Halogen Bulb or HID Bulb) or with both LED DRL and Projector Head Lamp

• Headlamps with Signature DRL’s or

Lighting become a styling feature and were introduced in the vehicles launched in 2016

• Later half of 2016 also witnessed

the introduction of LED Projector Head Lamps thus leading to more penetration of Electronics and LED into Head Lamps

• Year 2017 will witness the

transition to manufacturing of Localized LED Head Lamp with Signature DRL and Position

38

• The future models which are

replacing the existing models are now either with Projector Head Lamp (Bulb) whose predecessor were with Halogen Bulbs and with Projector Head Lamp (with LED) whose predecessors were with Projector with Halogen Bulbs

2011-13 2014-15 2017-18 2016-17

Projector Head Lamp All LED Head Lamp Head Lamp with Bulb Head Lamp with bulb + Led DRL Head Lamp with LED Projector and LED DRL

LED to drive the future growth

Head Lamp – Technology Evolution

SLIDE 39

The Market Scenario

Increased styling demands by OEMs to individualise & differentiate Influencing the cost of lighting cluster Creating revenue

• pportunities for Tier I

suppliers Creating The Advantage

Partnership with Stanley Electric - Stanley is one of the Auto Lighting company globally to manufacture LEDs Lumax is supplying to almost 90% of OE customers Higher need for Localization of Engineering & Cost Reduction

39

Strategically located Manufacturing Infrastructure Consistent Investment in R&D Backward integration with PCBMT (Surface Mounting Technology) To gain from Bharat Stage VI

Leveraging on our Strengths for LED Market

SLIDE 40

Financials

SLIDE 41

Standalone Results

EBITDA Revenue Cash PAT PAT

• Rs. Crores

1,117 1,143 1,255 1,271 1,650 1,445 FY18* FY16 FY17* FY14 FY15 9MFY19* +10% 51.1 59.3 88.6 100.3 133.7 122.4 FY15 FY18* FY14 FY16 9MFY19* FY17* +27% 7.7 16.6 37.4 46.1 63.2 95.3 FY14 FY15 FY16 FY17* 9MFY19^* FY18* +69% 44.3 52.7 75.3 87.5 111.1 136.6 9MFY19^* FY14 FY15 FY16 FY17* FY18* +26%

4.57% 8.00% +343 Bps Margins 0.69% 4.41% +372 Bps

41

* Numbers updated as per IND-AS

Revenue & Healthy Margins

^Includes one time gain on sale of asset of Rs. 36.20 Crores and the tax paid on the same was Rs. 7.20 Crores

SLIDE 42

661 713 760 812 973 1,005 H1FY19* FY16 FY14 FY15 FY17* FY18* Standalone Results

Long Term Loan Gross Block Reducing Long Term Debt / Equity Capex

21.0 52.0 52.0 70.0 162.0 36.0 H1FY19* FY15 FY14 FY16 FY17* FY18* 0.69 0.45 0.21 0.05 0.02 0.01 FY18* FY15 FY14 FY16 H1FY19* FY17* 103.0 68.0 36.0 13.0 5.0 3.7 FY18* FY17* FY16 FY14 FY15 H1FY19*

42

• Rs. Crores

* Numbers updated as per IND-AS

Expansion funded through Internal Accruals

SLIDE 43

Standalone Results

ROCE (%) ROE (%)

4.4 9.2 18.3 18.0 22.0 25.9 H1FY19*^ FY14 FY15 FY16 FY17* FY18* 8.6 13.2 25.6 26.0 32.0 39.0 FY18* FY16 FY14 FY15 FY17* H1FY19*^

43

Dividend (% of Face Value) EPS (in Rs.)

35 55 120 145 230 FY14 FY18* FY17* FY15 FY16 8.2 17.7 40.0 49.3 67.7 101.9 FY17* FY14 FY15 9MFY19* FY16 FY18* * Numbers updated as per IND-AS

Healthy Return Ratios

^TTM basis ROCE = EBIT / Capital Employed Capital Employed = Networth + Long term debt including Current Maturity

SLIDE 44

EPS (in Rs.) PAT*

44.5 66.3 53.6 60.6 9MFY19 Standalone# 9MFY18 Standalone 9MFY18 Consolidated 9MFY19 Consolidated#

44

Net Worth* ROE^ (%)

47.6 101.9 57.4 95.8 9MFY18 Standalone 9MFY19 Standalone 9MFY18 Consolidated 9MFY19 Consolidated 292.9 310.3 362.0 373.6 H1FY18 Consolidated H1FY18 Standalone H1FY19 Standalone H1FY19 Consolidated 17.6 25.9 12.1 20.4 H1FY18 Standalone H1FY19 Standalone H1FY19 Consolidated H1FY18 Consolidated *Rs. Crores # Numbers updated as per IND-AS

Consolidated Performance

^ TTM Basis

#excludes one time gain on sale of asset of Rs. 36.20 Crores and the tax

paid on the same was Rs. 7.20 Crores

SLIDE 45

• Rs. Crores

45

# Numbers updated as per IND-AS

YTD Highlights - Consolidated

1,090 1,445 9MFY18 9MFY19

Revenue

87 127 9MFY18 9MFY19

Normalized EBIDTA*

54 61 9MFY19 9MFY18

• Adj. PAT^

*excludes forex items 8.0% 8.8% ^excludes one time gain on sale of asset of Rs. 36.20 Crores and the tax paid on the same was Rs. 7.20 Crores

SLIDE 46

46

# Numbers updated as per IND-AS

Standalone P&L Statement

* MTM Forex Loss / (Gain) part of other expenses and other income in reported financials

Particulars (Rs. in Crores.) Q3 FY19 Q3 FY18 YoY 9M FY19 9M FY18 YoY FY18 Total Revenue (Net of Excise duty) 430.80 370.68 16.2% 1,444.53 1,090.47 32.5% 1,649.35 Raw Material 274.56 233.89 955.46 702.85 1,090.14 Employee Expenses 55.38 47.48 164.56 136.07 188.93 Other Expenses 62.87 56.49 197.58 164.14 236.55 EBITDA 37.99 32.83 15.7% 126.94 87.41 45.2% 133.72 EBITDA Margin 8.81% 8.9% 8.8% 8.0% 8.1% Forex Loss / (Gain)* (3.40) (1.50) 4.50 (3.50) (2.50) Other Income 5.43 0.39 16.76 4.71 6.75 Depreciation 14.21 11.66 41.32 34.17 47.87 Finance Cost 4.19 1.13 10.95 3.55 7.19 PBT 28.42 21.93 29.6% 86.94 57.90 50.1% 87.92 Tax 6.79 4.68 20.64 13.37 24.69 PAT Adj. 21.63 17.25 25.4% 66.3 44.53 48.9% 63.24 PAT Adj. margin 5.0% 4.7% 4.6% 4.1% 3.8% Extra Ordinary Item 36.20 0.00 36.20 0.00 0.00 Tax on Extra Ordinary Item 7.20 0.00 7.20 0.00 0.00 Reported PAT 50.60 17.25 193.3% 95.26 44.53 113.9% 63.24 Reported PAT Margin 11.7% 4.7% 6.6% 4.1% 3.8% EPS 54.13 18.46 101.91 47.64 67.65

SLIDE 47

47

# Numbers updated as per IND-AS

Consolidated P&L Statement

* MTM Forex Loss / (Gain) part of other expenses and other income in reported financials

Particulars (Rs. in Crores.) Q3 FY19 Q3 FY18 YoY 9M FY19 9M FY18 YoY FY18 Total Revenue (Net of Excise duty) 430.80 370.68 16.2% 1,444.53 1,090.47 32.5% 1,649.35 Raw Material 274.56 233.89 955.46 702.85 1,090.14 Employee Expenses 55.38 47.48 164.56 136.07 188.93 Other Expenses 62.87 56.49 197.58 164.14 236.55 EBITDA 37.99 32.83 15.7% 126.94 87.41 45.2% 133.72 EBITDA Margin 8.8% 8.9% 8.8% 8.0% 8.1% Forex Loss / (Gain)* (3.40) (1.50) 4.50 (3.50) (2.50) Other Income 1.30 0.39 2.77 0.92 2.96 Depreciation 14.21 11.66 41.32 34.17 47.87 Finance Cost 4.19 1.13 10.95 3.55 7.19 PBT 24.30 21.93 10.8% 72.95 54.11 34.8% 84.13 Profit from Associates 1.58 0.81 6.64 14.59 13.42 Tax 6.21 4.82 19.01 15.07 26.19 PAT Adj. 19.67 17.93 9.7% 60.58 53.63 13.0% 71.36 PAT Adj. margin 4.6% 4.8% 4.2% 4.9% 4.3% Extra Ordinary Item 36.20 0.00 36.20 0.00 0.00 Tax on Extra Ordinary Item 7.20 0.00 7.20 0.00 0.00 Reported PAT 48.63 17.93 171.3% 89.54 53.63 66.9% 71.36 Reported PAT Margin 11.3% 4.8% 6.2% 4.9% 4.3% EPS 52.02 19.18 95.79 57.38 76.34

SLIDE 48

48

ASSETS (Rs. in Crores.) Sept-18 Mar-18 Non-current assets Property, plant and equipment

521.68 514.02

Capital work-in-progress

46.91 33.83

Other intangible assets

3.97 4.35

Financial assets Investments

4.51 4.51

Loans

4.63 3.92

Others

2.53 2.31

Other tax Assets

0.59 0.81

Deferred tax assets (net)

0.27

Other non-current assets

18.30 8.08

Sub-total - Non-Current Assets

603.13 572.10

Current assets Inventories

208.12 168.79

Financial assets Investments

0.12 0.15

Trade receivables

321.32 318.23

Cash and cash equivalents

2.01 1.24

Bank balances other than Cash

0.01 0.47

Loans

0.90 0.95

Derivatives

0.00 0.00

Others

25.53 32.55

Other current assets

71.49 39.92

Sub-total - Current Assets

629.49 562.30

Assets Classified as held for Sale

1.25 0.02

TOTAL - ASSETS

1,233.86 1,134.41

EQUITY & LIABILITIES Sept-18 Mar-18 Equity Equity Share capital

9.35 9.35

Non Controlling Interest

0.00 0.00

Other equity

300.92 283.52

Sub-total - Shareholders' funds

310.26 292.86

LIABILITIES Non-current liabilities Financial liabilities Borrowings

1.66 2.28

Provisions

21.62 20.03

Deferred tax liabilities (net)

3.41 0.00

Other non-current liabilities

0.00 0.00

Sub-total - Non-current liabilities

26.69 22.31

Current liabilities Financial liabilities Borrowings

116.14 99.21

Trade payables

577.39 536.36

Other financial liabilities

87.29 117.95

Provisions

14.37 11.27

Other current liabilities

101.71 54.44

Sub-total - Current liabilities

896.91 819.24

TOTAL - EQUITY AND LIABILITIES

1,233.86 1,134.41

# Numbers updated as per IND-AS

Standalone Balance Sheet

SLIDE 49

49

ASSETS (Rs. in Crores.) Sept-18 Mar-18 Non-current assets Property, plant and equipment

521.68 514.02

Capital work-in-progress

46.91 33.83

Other intangible assets

3.97 4.35

Investments accounted Using Equity Method

79.93 86.76

Financial assets Investments

0.96 0.96

Loans

4.63 3.92

Others

2.53 2.31

Other tax Assets

0.59 0.81

Other non-current assets

18.30 8.08

Sub-total - Non-Current Assets

679.51 655.04

Current assets Inventories

208.12 168.79

Financial assets Investments

0.12 0.15

Trade receivables

321.32 318.23

Cash and cash equivalents

2.01 1.24

Bank balances other than Cash

0.01 0.47

Loans

0.90 0.95

Derivatives

0.00 0.00

Others

25.53 32.55

Other current assets

71.49 39.92

Sub-total - Current Assets

629.49 562.30

Assets Classified as held for Sale

1.25 0.02

TOTAL - ASSETS

1,310.25 1,217.35

EQUITY & LIABILITIES Sept-18 Mar-18 Equity Equity Share capital

9.35 9.35

Non Controlling Interest

0.00

0.00 Other equity

364.27 352.65

Sub-total - Shareholders' funds

373.62 362.00

LIABILITIES Non-current liabilities Financial liabilities Borrowings

1.66 2.28

Provisions

21.62 20.03

Deferred tax liabilities (net)

16.43 13.81

Other non-current liabilities

0.00 0.00

Sub-total - Non-current liabilities

39.72 36.12

Current liabilities Financial liabilities Borrowings

116.14 99.21

Trade payables

577.39 536.36

Other financial liabilities

87.29 117.95

Provisions

14.37 11.27

Other current liabilities

101.71 54.44

Sub-total - Current liabilities

896.91 819.24

TOTAL - EQUITY AND LIABILITIES

1,310.25 1,217.35

# Numbers updated as per IND-AS

Consolidated Balance Sheet

SLIDE 50

Awards & Recognitions

SLIDE 51

51 Award received from Maruti Suzuki India Ltd - May 2018

Awards & Recognition

For Tier 2 Upgradation For Overall Vendor Performance For Gujarat Localization

SLIDE 52

HMSI Awards for New Product Development

Awards & Recognition

SLIDE 53

SML Isuzu Award for Design and Development

Awards & Recognition

SLIDE 54

Team Sankalp from Lumax Industries Limited, Bawal won the 'Best Overall Project' Award at the ICQCC, Singapore, 2018. It was the highest award of the competition. Team Sankalp also bagged the 'Star Award'. While both Team Sankalp and Team Jagriti from Lumax Industries Limited, Dharuhera won the 'Gold Award' at the competition

Awards & Recognition

SLIDE 55

55

ICQC Phillipines – Gold Award- Received on 26th October 2017 by both Bawal and Haridwar plant teams

Awards & Recognition

SLIDE 56

56

Overseas Supplier Association-‘Special Recognition Award’ from Toyota Motor Corporation, award being given by

• Mr. Takeshi Uchiyamada, Chairman, Toyota Motor Corporation

Awards & Recognition

SLIDE 57

JIPM-TPM Excellence Award Pantnagar Plant, March 2014 57

TPM Award

JIPM-TPM Excellence Award Bawal Plant, November 2017

SLIDE 58

58

• Mr. C K Tao, Director, TAITRA-Taiwan Office, Mr. David Ho, Ex-President, TYC Group, Taiwan, along

with Mr. D K Jain, Chairman and Mr. Vineet Sahni, CEO, Lumax Industries Limited

Future Ready: New Design Centre in Taiwan

SLIDE 59

Health Education

Towards its endeavour to give back to society, the group has taken various initiatives towards Education

• f

the

• underprivileged. Four schools in the NCR region, close to its

facilities have been adopted, starting with improving its infrastructure, to facilitating the annual fee so as to ensure a conducive environment for learning and continuity in education. Also provide support towards maintaining good health of the community around its facilities

59

CSR Initiatives

SLIDE 60

For further information, please contact:

Lumax Industries Limited CIN: L74899DL1981PLC012804

• Ms. Priyanka Sharma

priyanka.sharma@lumaxmail.com

www.lumaxindustries.com

www.lumaxworld.in Strategic Growth Advisors Pvt. Limited CIN: U74140MH2010PTC204285

• Mr. Rahul Agarwal / Mr. Shrikant Sangani

rahul.agarwal@sgapl.net / shrikant.sangani@sgapl.net Tel: 98214 38864 / 96195 95686 www.sgapl.net

Company: Investor Relations Advisors:

60